India's Technocraft Industries drops on stopping yarn production at unit

Technocraft Industries (India)

17/11/2023 06:28

** Shares of multi-product manufacturer Technocraft
Industries (India)  TEIN.NS  down as much as 1.9% to 1,975
rupees on discontinuing ops at Maharashtra unit 
    ** Co to discontinue production of milange yarn at its
Murbad unit in Maharashtra due to adverse market conditions and
losses
    ** In FY23, revenue from Murbad unit contributed 5.69% of
total standalone rev of co 
    ** Stock last down 0.9%, trimming YTD gains to ~120%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))